Bloomberg Law
April 15, 2021, 5:04 AM

Traditional IPOs Outperform SPACs as Blank-Check Frenzy Cools

Swetha Gopinath
Swetha Gopinath
Bloomberg News

Special-purpose acquisition companies may have become the hottest must-have for business tycoons, celebrities and even athletes, but old-school initial public offerings have quietly outperformed them this year.

More than 330 blank-check firms have listed in 2021, mostly in the U.S., making up just over a third of global IPO activity, data compiled by Bloomberg show. They join the 300 SPACs already floated last year, sparking concern among investors about their potential to find suitable acquisition targets and increased competition for the most attractive assets in the market.

This year’s SPACs are trading up about 1.2% on average on an offer-to-date ...

Learn more about Bloomberg Law or Log In to keep reading:

Learn About Bloomberg Law

AI-powered legal analytics, workflow tools and premium legal & business news.

Already a subscriber?

Log in to keep reading or access research tools.